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OPEC is described as a classical example of what type of market? Why have they had success and failure? If OPEC had only two members, Saudi Arabia and Kuwait use game theory to describe how much production each would supply to the market. What does dominant strategy mean in the context of this example? Usually, the above example is a onetime strategy. In the long run what will decide how much will ultimately be produced?
The effective capacity and efficiency for next quarter at MMU Mfg. in Waco, Texas, for each of three departments are given below. Compute the expected production for next quarter for each department.
Select a news story from a Internet news organization.
1 an example of a negative externality is thea. decrease in your real income that results when photographic equipment
Determine the firm's minimum cost of making unit of output and the wage is €1 per hour and the capital rental charge is €1 per hour.
question1. a model of the determinants of health combines three economic variables and two economic
Four years ago a company purchased a new copy machine. Due to deterioration, soon a new copy machine will be needed.
How does a budget deficit lead to an appreciating currency and a trade dificit? Explain how the introduction of the foreign sector makes the fiscal policy tool of budget deficit less effective in stimulating the open, as comapared to the closed, e..
How government intervention in the form of a tax on producers can make the post-policy outcomes even worse than the pre-policy position and explain the underlying economic logic of this proposition.
Deep global recession might trigger changes in expending from imported items to domestically manufactured items. What are at least two policies that governments might implement to increase expending on domestic items.
A two-year-old child is eating raisins one at a time from a large box. Even though the child doesn't understand formal economic theory, he knows when to stop eating because he is full. Describe how this child has already mastered marginal analysis..
The advertising and promotion budget contained three elements: trade magazine advertising, cooperative newspaper advertising with Century Office Systems, Inc. dealers, and sales promotion materials including product brochures
the total demand marginal benefit curve for visiting yosemite is as follows price 5000-10numberoftrips
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